Aspiro AB (publ) Interim Report, January - March 2006

Positive Progress in Q1 – Target for 2006 Upgraded

• First-quarter net sales were SEK 119.3 m (SEK 70.5 m), equivalent to year-on-year growth of some 70%. Mobile Avenue was consolidated from 1 January 2006 onwards, contributing SEK 7.5 m. • First-quarter EBITDA was SEK 15.0 m (SEK 1.4 m). The strategy of progressively downscaling advertising sales in favor of more profitable Aspiro Channels proved successful. The consequence was somewhat lower sales, in favor of higher margins. • Earnings after tax for the first quarter were SEK 8.7 m (SEK -0.5 m); earnings per share were SEK 0.05 (SEK -0.00). • The Board is upgrading its previous target for 2006 of a minimum EBITDA of SEK 55 m. The new goal is that in like-for-like terms, the company will achieve a minimum EBITDA of SEK 65 m. • Aspiro acquired Finnish mobile services provider Mobile Avenue on 26 January. The acquisition value was SEK 32.5 m. The acquisition is expected to contribute sales of some SEK 28 m and EBITDA of some SEK 3 m for 2006, excluding synergies. • Aspiro intends to benefit from its secure position in the Nordic region in existing services segments, and to use its mobile know-how to enter new growth segments. Aspiro’s Board is currently evaluating segments including mobile gambling/betting, mobile marketing, search services and larger-scale communities. • Consistent with Aspiro’s strategy of always being No. 1, 2 or 3 on each of its markets, the Board has decided to close down or divest its operations in the UK and Spain, where it has very limited market shares. These measures will have a marginal positive impact on Aspiro’s profitability. KEY FIGURES, Jan - Mar 2006 Net sales, SEK m: 119.3 (70.5) EBITDA, SEK m: 15.0 (1.4) Operating profit/loss, SEK m: 11.9 (-1.2) Earnings after tax, SEK m: 8.7 (-0.5) Earnings per share, SEK: 0.05 (-0.00) Liquid funds, closing balance, SEK m: 61.3 (84.5) Cash flow from operating activities before changes in working capital, SEK m: 11.2 (1.8) Figures in brackets are for the corresponding period of the previous year. In recent years, we’ve secured strong positioning in mobile content services in the Nordic region. We now access a very substantial portion of the youth segment through our existing offering and well-extended distribution. We now intend to exploit this position as we move into new growth segments with offerings that can attract our existing target groups. Mobile phones are very important, particularly for the youth of today, and we are convinced that increasingly, mobiles will become a source of entertainment and information. This is why our Board is considering a number of promising services like gambling and mobile marketing, with the intention of securing Aspiro’s strategic focus in these segments, says Johan Lenander, Aspiro’s CEO.